Press Esc to close
Thursday 29 January 2015
News updated at 2:39 AM IST
Weather
Max: 27.9°C
Min : 15.2°C
In Bengaluru
Partially cloudy
Breaking News

Japan to give fresh infra loan of $2.26 bn to India

Phnom Penh, Nov 20 (PTI)
In this photograph received from the Press Information Bureau (PIB) on November 20, 2012 Indian Prime Minister Manmohan Singh (L) shakes hands with Japanese Prime Minister Yoshihiko Noda at a bilateral meeting on the side lines of the 10th ASEAN-India Summit in Phnom Penh. AFP PHOTO/PIB/M ASOKAN ----EDITORS NOTE---- RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT 'AFP PHOTO

Japan will give a fresh loan of about USD 22.6 billion for the second phase of Dedicated Freight Corridor and an infrastructure project in South India, Prime Minister Yoshihiko Noda today told his Indian counterpart Manmohan Singh as they met here, making up for an opportunity lost a few days ago.

Singh, while welcoming the announcement of loan, emphasised to Noda that India's priority was investments by Japanese companies in infrastructure projects like Delhi Metro Rail, which was a "fine example" other cities want to emulate.


The two leaders were to meet in Tokyo on November 16 during Singh’s scheduled three-day visit beginning November 15 for annual Summit. However, the visit was cancelled just a day ahead in view of sudden political developments in Japan with Noda deciding to announce elections.

During the meeting today on the sidelines of East Asia Summit, Noda expressed happiness at being able to meet Singh to underline the close Strategic and Global Partnership between the two countries, sources said.

He told Singh that he wanted to discuss the next steps in the relationship since they could not meet in Tokyo for the Annual Summit due to domestic developments in Japan, they said.

Noda informed Singh that Japan will be announcing the second round of loans under Overseas Development Assistance (ODA) for the second phase of the Dedicated Freight Corridor and a third infrastructural project in South India, where Japanese companies have a good presence, the sources said.

The fresh loan amount is expected to be 184 billion yen, approximately USD 22 billion.

The Japanese Prime Minister also mentioned Japanese interest in continuing the consultation on the high-speed railways.

Both the Prime Ministers expressed happiness on the signing of the MoU on Rare Earths and the Agreement on Social Security signed on November 16 in Tokyo.


Go to Top

Photo Gallery
Prime Minister Narendra Modi awarding a winner cadet during the Prime Minister's NCC Rally, in...

Prime Minister Narendra Modi awarding a winner cadet during the Prime Minister's NCC Rally, in...

An illuminated Raisina Hills after the full dress rehearsal for the Beating Retreat ceremony in...

An illuminated Raisina Hills after the full dress rehearsal for the Beating Retreat ceremony in...

Ranchi Rays and Dabang Mumbai Hockey players in action during their HIL match in Ranchi on...

Ranchi Rays and Dabang Mumbai Hockey players in action during their HIL match in Ranchi on...

International body builder Ricardo Corriea at the BodyPower Expo 2015 in Bengaluru on Wednesday. PTI

International body builder Ricardo Corriea at the BodyPower Expo 2015 in Bengaluru on Wednesday. PTI

Kingfisher East Bengal (red & yellow) and Bengaluru FC (blue) in action during their I-League...

Kingfisher East Bengal (red & yellow) and Bengaluru FC (blue) in action during their I-League...

Kingfisher East Bengal (red & yellow) and Bengaluru FC (blue) in action during their I-League...

Kingfisher East Bengal (red & yellow) and Bengaluru FC (blue) in action during their I-League...

Supporters of AAP listen to convener Arvind Kejriwal during an election campaign in Shakurpur...

Supporters of AAP listen to convener Arvind Kejriwal during an election campaign in Shakurpur...

A MiG-27 of the Indian Air Force (IAF) crashes in Barmer district in Rajasthan on Tuesday...

A MiG-27 of the Indian Air Force (IAF) crashes in Barmer district in Rajasthan on Tuesday...

Goods trucks waits on Srinagar-Jammu National Highway during fresh snowfall...

Goods trucks waits on Srinagar-Jammu National Highway during fresh snowfall...

Indian and Chinese army officials standing near a rangoli, made on the occasion of Republic Day...

Indian and Chinese army officials standing near a rangoli, made on the occasion of Republic Day...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523